The National Reserve Bank of Tonga (Reserve Bank) was established on 1 July 1989 as the central bank of Tonga.

The principal objectives of the Reserve Bank shall be to maintain internal and external monetary stability, promote financial stability and promote a sound and efficient financial system. The Reserve Bank shall conduct its activities in a manner that supports macroeconomic stability and economic growth.

Latest News

Foreign Reserves rose by $1.6 million over January9 February 2018Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) rose by $1.6 million over the month of January 2018 to $424.1 million, equivalent to 7.8 months of imports. Over the past year, the official foreign reserves rose by $43.3 million.

Monetary Policy Decision22 January 2018The National Reserve Bank of Tonga’s board of directors at its meeting on the 17th January 2018 approved to maintain its current monetary policy measures. This is to encourage utilisation of the excess liquidity in the banking system, through further lending, particularly to the growth sectors, in order to support economic growth, and strengthen the monetary policy transmission mechanism.

Monetary Policy Statement for August 201722 January 2018At its meeting on the 17th January 2018, the National Reserve Bank of Tonga’s Board of Directors approved to release its Monetary Policy Statement (MPS) for August 2017. This Statement reviews Tonga’s economic growth and the Reserve Bank’s conduct of monetary policy in the six months to August 2017 and its outlook.

Foreign Reserves fell by $2.3 million over December16 January 2018Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) fell by $2.3 million over the month of December 2017 to $422.5 million, equivalent to 7.5 months of imports. Over the past year, the official foreign reserves rose by $43.7 million.

Unauthorized Foreign Exchange Services3 January 2018It has been brought to our attention that there are retail shops in Tongatapu including outer islands that continued to provide foreign exchange services to its customers, particularly foreign currency cash conversion without the required license.

Foreign Reserves rose by $11.2 million over November13 December 2017Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) rose by $11.2 million over the month of November 2017 to $424.8 million, equivalent to 7.6 months of imports. Over the past year, the official foreign reserves rose by $63.9 million.

Foreign Reserves rose by $10.6 million over October14 November 2017Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) rose by $10.6 million over the month of October 2017 to $413.6 million, equivalent to 6.9 months of imports. Over the past year, the official foreign reserves rose by $46.6 million.

Reserve Bank paid $1.997 million to Government9 November 2017The National Reserve Bank of Tonga Chairman of the Board of Directors, Mr. Steve Edwards and the Governor Sione Ngongo Kioa presented the annual dividend of the Bank for 2016/2017, a cheque of $1.997 million to the Minister for Finance and National Planning Hon. Dr. Pohiva Tu’i'onetoa on the 9th November 2017.

Monetary Policy Decision1 November 2017The National Reserve Bank of Tonga’s board of directors at its meeting on the 30th October 2017 approved to maintain its current monetary policy measures. This is to encourage utilisation of the excess liquidity in the banking system, in order to support economic growth ...

Lower import & primary income payments raised surplusOverseas Exchange Transactions for November 2017 | Released on 2 February 2018The total Overseas Exchange Transaction (OET) receipts for November 2017 decreased by $14.6 million (20.9%) to $55.1 million. Lower telecommunication services and interbank transfers’ receipts were the major drivers, and supported by lower receipts of grants to non-profit organization and travel receipts.

Squash and agricultural export volumes, highest on record since 2013Agricultural Exports Volumes for October 2017 | Released on 31 January 2018The agricultural exports volume reached a new high level in October 2017, a total of 3,586.3 tonnes mainly driven by the favourable squash harvesting season. This was an increase by 2,360.0 tonnes over the month, which almost tripled the volumes recorded last month.

Households continue to be the main driver of credit growthBanking Sector Developments for October 2017 | Released on 25 January 2018Total banks’ lending increased by $1.1 million (0.3%) over October to $418.1 million. This was driven solely by lending to households, offsetting the lending to businesses. Annually, total banks’ lending increased by $49.9 million (13.5%) driven by rises in lending to both households and businesses.

Monthly Economic Review for NovemberReleased on 22 January 2018Developments amongst Tonga’s major trading partners remained relatively stable over November. The Reserve Bank will continue to update its monetary policy setting to maintain internal and external monetary stability and to promote a sound and efficient financial system, in order to support macroeconomic stability and economic growth.

Rise in new registrations due to higher taxis and rental vehicles registeredVehicle Registration for September 2017 | Released on 16 January 2018Total of 329 new vehicles were registered in October 2017, 18 vehicles (5.8%) more than the 311 total registrations recorded last month. The rise in total vehicles registered was mainly due to an increase in taxis & rentals and cars registrations.

Lower international arrival and departureInternational Arrival & Departures for October 2017 | Released on 11 January 2018The total international arrivals declined over the month by 3,068 (22.5%) passengers, of which 70.5% were visitors and the remainder were returning residents. All categories of international arrival declined except for returning residents which slightly rose over the month by 209 passengers (7.2%).

Lower private containers in OctoberContainer Registration for October 2017 | Released on 28 December 2017The total container registrations declined over the month by 68 containers (6.2%) to 1,025 registrations. Container registrations remained higher than the average number of containers recorded in the same month of the past 5 years.

Lower marine products exported in September 2017Marine Exports Volumes for September 2017 | Released on 27 December 2017After three consecutive months of high volume in marine exports, it slowed over the month. Total exported marine products fell by 177.5 metric tons (64.8%) during the month. The marine exports for the month was also higher than what was recorded in May.